News

Despite delays caused by floods and cyclones early this year, Hancock Coal has taken another giant step towards ‘Opening up the Galilee Basin’. With high quality thermal coal now being extracted from the trial test mine, crushed and stockpiled in readiness for export to the Republic of Korea, Hancock Coal has confirmed it is the ‘true pioneer’ of the Galilee Basin.

At the official ‘first coal’ ceremony, Chairman of the Hancock Group of Companies, Mrs Gina Rinehart, said she was proud of her Alphha Coal Project team. “ I am pleased our Australian company group has led the way in developing this Galilee Basin, leadership only possible given our large investment to date”.

Among the invited guests whoo joined Mrs Rinehart celebrating ‘first coal’ were representatives from Korea South-East Power Co. which will take the very first shipment from the Galilee Basin and executives of China’s Zhejiang Provincial Energy Group Co., who signed a letter of intent on the day to purchase significant quantities of Hancock Coal should the mine proceed and exports commence in 2014.

Other prospective international coal customers predominantly from the power generation sector also made the trip to the remote test pit site . Hancock Coal has secured a broad ranging customer base encompassing some 14 buyers in 7 countries being Japan, Taiwan, Vietnam, China, Korea, Philippines and India.

Mrs Rinehart also revealed plans for a unique accommodation village at Murray's Bay just south of Bowen. “This is a beautiful bay where our future port and rail staff can live. We want to make this a project where staff want to stay, with families too.”

Guests were also told by Mrs Rinehart of a planned Remote Operations Centre at Brisbane Airport. “This is so some families can have the choice of continuing to live at home in Brisbane and surrounding areas, whilst working on our project.

The Alpha Coal (Tad’s Corner)) and Kevin’s Corner (which is an adjoining deposit) Projects, if they obtain all government approvals, will bring a number of benefits to the region, the state and Australia. These include; hundreds of millions of dollars of royalties each year, full time sustainable employment, economic spin-offs for communities in and around Alpha and a positive boost for regional service provision as a result of the mines, rail and port (which are all part of Hancock’s unique pit to port solution)).

Hancock is leading the way in the Galilee Basin, and following on from Lang Hancock’s vision in the 70’s, is a true pioneer of the region.

Here are some of the key facts about Hancock’s position;

The only Galilee Basin proponent to possess Native Title Agreements across the Mine, Railway and Port land

The only Galilee Basin proponent to possess a port allocation (both land and marine) at the port of Abbot Point, namely as preferred developer for Terminal 3

The first Galilee Basin proponent with a declaration as an Infrastructure Facility of Significance for the rail corridor project from the Galilee Basin to Abbot Point

The only Galilee Basin proponent to possess guaranteed provision of power infrastructure (by Powerlink)

Secured water supplies

First Galilee Basin proponent to have Mining Lease applications in progress

The only Galilee Basin proponent with market commitments from across Asia

The only Galilee Basin proponent to have commenced ground breaking early works, and,

The only Galilee Basin proponent to have secured large acreage to support construction and operations.